Broadwood Capital Acquires 2 Mln Shares of BioTime, Inc. (BTX)

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Neal C. Bradsher‘s Broadwood Capital has raised its stake in BioTime, Inc. (NYSEMKT:BTX), a recent Form 4 filing with the Securities and Exchange Commission shows. The fund currently owns slightly more than 12.00 million shares of the company, purchasing 2.00 million shares at a price of $2.52 apiece. Broadwood’s current position is worth around $28.24 million, given BioTime’s current stock price.

BioTime

Based in Alameda, California, BioTime, Inc. (NYSEMKT:BTX) is a biotechnology company focused on the emerging field of regenerative medicine. Through its subsidiaries, BioTime develops pluripotent stem cells that can become any cell type in the human body. In 2011, the company issued 261,959 common shares and paid $250,000 in cash to acquire the assets of Cell Targeting, Inc., a a Cleveland, Ohio-based biotechnology company conducting research in regenerative medicine. The technology acquired from Cell Targeting uses peptides selected for their ability to adhere to diseased tissues. Yesterday the company announced that on May 1, 2014, it raised $6.40 million in equity capital.

BioTime, Inc. (NYSEMKT:BTX) lost around 40.00% of its market value in the past 12 months, it’s price currently quoted at $2.35 per share and bearing a Beta of 0.86. According to the company’s fiscal year 2013 financial results report, BioTime, Inc. delivered net less of $43.9 million or $0.81 per share for the full year ended December 31, 2013, compared to a net loss of $21.4 million or $0.44 per share for the full year ended December 31, 2012. David E. Shaw‘s New York based investment management firm D E Shaw holds nearly 78,000 shares of BioTime, Inc.

Founded by Neal C. Bradsher in 2002, Broadwood Capital owns an equity portfolio with a total value of almost $500.00 million, which are invested in the Healthcare, Consumer Goods, and Services Sectors. The fund is significantly exposed to Questcor Pharmaceuticals Inc (NASDAQ:QCOR), in which it holds a stake of almost 2.80 million shares. The fund also owns 6.90 million shares of STAAR Surgical Company (NASDAQ:STAA).

Disclosure: none

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